September 23, 2008, Nifty

The Nifty broke our support of 4214 yesterday. Asia is down, Oil is up sharply. We could see Nifty open down and come under pressure throughout the day. 4200 will probably be broken in the opening. The next support for Nifty is at 4130.

Trading Strategy: Play for resistances/supports break outs and bounces.We are near expiry, avoid positional (overnight) trades and keep strict stops.
Supports: 4201, 4130
Resistances: 4224, 4289-4305